Cramer

I have never invested before, but am looking into it for some future quick cash. Stocks are low now, but I don't expect them to stay low forever. I know that I won't get much with cheap stocks, but still looking for ideas.

I am currently interested in SNS (The restraunt I work for), but am open to other ideas.

MakingUpRules

If you are going with pennies then starting with something you have an interest in is a good way to start. I have little interest in them much of the time, so that might suit you.

buildingup

If you want to trade in penny stocks you need to be prepared to move quickly and stay on top of your investments. Since penny stocks are often so volatile and they move rapidly, the way to make quick cash is to buy and sell frequently even several times per day. If you are good at predicting direction, you can make a killing and at least with the prices so low, you're often not dealing with a large loss overall.

Cramer

So you recommend getting more than one company's stock? If so, would it be sensible to get all of them in the same industry, such as Food Service/Hospitality in my case?

MakingUpRules

No, never get them all in the same type of industry. Diversification is key when it comes to stocks-because then if one industry goes belly up, you won't lose everything. What's more, having everything in one company is equally as dangerous-more so if anything.

Cramer

Alright, advice taken. Are there any industries I should stay away from no matter what? And how much should I invest, I make about $2500 a month, give or take a few hundred.

MakingUpRules

What you should invest depends upon what you can afford. No, it depends on what you can afford to lose, because that is a very real risk when starting out, especially with pennies.

Cramer

Ahh, so my basis should be, if I were to go gambling this weekend, how much should I take with me? I am starting to get the hang of it now.

Angel

well my friend i being trading penny stocks for a few now. n u c an make a few 100s a day by days if you know what you doing MY advice to you is buy from FRE
because now they are at .88 trust me very soon will be 1.00 up
cus somebody got it fix this otherwise we going to the Great ... u know
don't get exited once you earn some profit n buy at a high price again wait that whatever go up may go down everybody know that when the market is -500 will bounce back up so u up to you . FRE n do read a lot that help you to know where the company stand n always look at the after market n pre market so u know how it will open so u can think of sell or hold

austenjonesufg

hello
Cramer, u give us a good advice for invest. ur post is helpful. thanks.

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